SB0226 (CH0476)

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2017 Regular Session



Biotechnology Investment Tax Credit - Qualified Maryland Biotechnology Company - Definition

Sponsored by:

Senator Manno


Approved by the Governor - Chapter 476

Synopsis:Altering the definition of "qualified Maryland biotechnology company" to extend a specified time period from a specified date that an active business may claim the biotechnology tax credit; altering the definition of "biotechnology company" to include a company that will be primarily engaged in, or within 2 months will be primarily engaged in, specified activities; providing for the revocation of a specified tax credit certificate and the recapture of the tax credit under specified circumstances; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Manno, Edwards, Feldman, Hough, Kasemeyer, King, Lee, Madaleno, Peters, Serafini, Young, DeGrange, and McFadden
Additional Facts:Cross-filed with: HB0373
Introduced in a prior session as: SB1107 Session: 2016 Regular Session
Bill File Type: Regular
Effective Date(s): June 1, 2017
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Industry and Technology
Investments -see also- Securities
Medical Research
Tax Credits
Statutes:Article - Tax - General

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November 28, 2017 1:09 P.M.